With gas prices on the rise, Trump officials discuss feared $150 oil

They've screwed this up so badly they are left with two options. 1. Throw American lives away in a ground invasion. 2. Leave and let Iran set global oil prices by restricting/tolling passage through the strait. Anyone puts sanctions on Iranian oil, they "sanction" all gulf oil by deciding what gets through.

They're more worried about gas prices than sacrificing our military's lives for a war they can't even explain

Biden and Harris were right. Trump will put America into a recession and hardship.

The thing that stuns me is Trump is OBVIOUSLY an idiot and yet Congress can't wait to obey his every stupid whim.

I'm so glad the president just spent the last year undermining clean energy projects...

So the common case of if they just did nothing to begin with, we would be far better off.

They're going to make Iran extremely wealthy by them charging a toll to pass through

Citizens shot or deported doesn't faze MAGA. An extra 50 at the gas station riles them up though. After Trump these people are still there.

Good thing they’ve prioritized EVs, Renewables and just general Energy Independence for the US. 

Didn’t some oil executive discuss over $200?

Trump claims that we "don't need the Strait of Hormuz," and that its closure doesn't affect us... An extremely delusional and ignorant remark yes, but Trump is doing what he always does; talking out of his ass to try to save his ass. Trump's comments related to this war have been so erratic that he's employing Orwellian levels of doublespeak. He also obviously lied about having "productive conversations" with Iranian leaders in order to manipulate the markets. Because just before Trump announced a five day pause on striking Iran's energy infrastructure, investors bought $1.5 billion in S&P 500 futures and sold $192 million in oil futures. This kind of corruption is unprecedented. His cabinet's messaging about the pretext for this war has been wildly inconsistent to make up for their poor planning, arrogance and incompetence. Trump also dismissed concerns about Strait of Hormuz closures, even though he was explicitly warned that Iran would resort to these countermeasures which have disrupted global trade and have forced neighboring countries to shut in oil production. And retaliatory actions that anyone could have predicted! We've managed to anger both our European and Middle East allies due to the extent of the impact of this global energy crisis and the Trump administration's chief involvement. Energy costs are rising around the world. Massive oil infrastructure has been damaged or destroyed. This will have rippling and long lasting consequences for everyone involved. Oil production and global trade will continue to face significant disruptions. The Strait of Hormuz absolutely affects us. Oil is a global market FFS... When the cost of crude oil goes up, we all pay the price. Nearly every country around the world is feeling the blowback of this crisis. Some countries have even had to impose energy usage caps. And even if the war ended tomorrow, the economic toll would still be devastating. Major oil producers have been forced to shut in their wells, meaning that they can't just magically turn the faucet back on; painful setbacks are inevitable. It will take months, maybe even years for energy production to return to prior levels. The cost of crude oil won't be suddenly restored to its pre-war equivalent either. And it's not just the price at the pump that Americans have to worry about. Prices are expected to rise for many goods. Mortgage rates are climbing back up, and interest rates aren't too far behind. There's also the growing likelihood of an oncoming recession, and estimates already show that the inflation rate is expected to exceed 4% while rising costs persist. And with the price of fertilizer rapidly increasing as a result of this war, food costs will eventually follow as well. In the meantime, the International Energy Agency, which just happens to be the global authority on this matter, just described the situation as "the greatest global energy security threat in history." So when Trump claims that the US won't be affected by a global trade disaster that he helped cause, he clearly has no idea what he's talking about, or he's lying to protect his fragile ego from the shame of his "epic failure," while hopelessly trying to shield himself from accountability.

I just don't see what's the big deal about $150 oil. If that's the what it takes to defeat America's enemies, $160 for a barrel is c****, and besides, we produce so much of it domestically that we'll be insulated from the effects of $170 oil, it's our competitors who'll really be hit by barrels hitting that $180 price point. Anyway, even if they do hit $190, that's just until we win the war and they go back down, so they'll only be $200 for a few weeks. The idea that it'll seriously go up to $210 is just liberals spreading fear and doubt to undermine Trump anyway, there's no way it ever goes up to $220.

We need a recession with no bailouts.  

Yeah they're discussing how much money they can squeeze out of it.

...Feared? That fear didn't - hasn't - stopped.

we were afraid of $120 last week.

… in november 😎

Trumps Folly

Oil is traded on the global marketplace. Even though we produce most of our oil domestically, if the producers can get a higher price for it elsewhere, they will sell it there. The shortage and increase in cost is GLOBAL. We also do not have enough refineries. We are screwed.

if you're trying to position around oil moves like this, traditional brokers are useless on weekends when news actually breaks. futures through schwab or interactive brokers work but you're still locked to market hours. for commodities specifically markets.xyz lets you trade oil 24/7 including weekends with multipliers, so you can actually react when tensions escalte instead of waiting for monday.

I hope gas costs $200 a gallon and every Trump supporter has to face what they voted for. Even then, some people will never wake up.

if America is the biggest oil producer...why is the price in America so high...